August 2023 Blog Post

 

You have probably heard the old saying that the key to real estate is: location, location, location.

 

While location is indeed an important factor in picking the right property to live or invest in, there are other important factors to consider.

 

Whether it’s social (amenities and services) or financial (affordability or opportunity for long-term capital appreciation), there are other considerations that are just as important.

 

That’s where experienced real estate agents such as myself demonstrate our value. We help analyze all of these factors – and more – while trying to help you check as many boxes as possible to make a sound decision.

 

An added edge is that I am fluent in three languages (including Taiwanese and Mandarin), helping people around the world discover the benefits of relocating or investing in Hawaii real estate.

 

One thing real estate agents can’t control – which can impact our ability to assist with a purchase – is inventory. A lack of inventory not only limits choice but often keeps prices stable or high. That’s often why bidding wars develop.

 

As I have noted in recent blog posts, inventory has been tight on the island of Oahu for a number of years. This applies particularly to the condo market, where many units on the market were constructed back in the mid-1960s and 1970s.

 

That’s why I am always excited when new projects are announced. They not only add to inventory but also provide increased choice – whether it’s for people who want to downsize but remain in a particular neighborhood, or for first-time buyers or investors.

 

One of the newer projects I am pleased to see is Ward Village, which is being led by the Howard Hughes Corporation. It is a unique, 60-acre master-planned community in the Kakaako neighborhood that used to be an old warehouse district.

 

The company’s efforts to transform this area – which lies between downtown Honolulu and Waikiki – into a walkable, mixed-use residential neighborhood have been chronicled in publications such as Forbes, Architectural Digest, and Pacific Business News.

 

With a growing number of dining and shopping activities along with a short walk to the beach, what more could you ask for?

 

I have several clients who have purchased units within this village that are either complete or under construction and they are very happy with their decisions. They appreciate the lifestyle that this area provides along with the great amenities offered in their respective buildings.

 

Unlike an existing property, purchasing a pre-construction unit does require more time and effort. I usually begin by emailing details about a project that interests a client. From there, I will connect with the project team to arrange a private showing for my mainland or international clients and provide a video and photo gallery to learn more about it, including the different design options and price points.

 

When it comes to time to make an offer to purchase, there are several important details to review, such as the contract, deposit required, and timeline for full payment along with ensuring financing is in place.

 

Once again, being in the real estate business for over 20 years has its advantages. I have assisted clients through this process many times which is very important as a deal isn’t a deal until the ink dries. The key is to make sure there are no surprises along the way.

 

With new projects such as Ward Village – and others that are adjacent to it in the Kakaako neighborhood led by well-known companies such as the Kobayashi Group — this is an exciting time in Hawaii real estate. They are adding to the existing housing stock on the Island of Oahu, providing an opportunity for both locals and people from the mainland – and around the world – to discover new properties in great locations.

 

To learn more about some of the projects that I am excited about, visit the New Developments page on my website and then contact me. I would be happy to assist you in saying Alo-ha to your new home or investment property.